- Real Estate
- Rental and Leasing Services
- Lessors of Nonfinancial Intangible Assets
Most real estate brokers and sales agents sell residential property. A small number—usually employed in large or specialized firms—sell commercial, industrial, agricultural, or other types of real estate.
Selling or leasing business property requires an understanding of leasing practices, business trends, and the location of the property. Agents who sell or lease industrial properties must know about the region’s transportation, utilities, and labor supply. Whatever the type of property, the agent or broker must know how to meet the client’s particular requirements.
Brokers and agents do the essentially the same type of work, but brokers are licensed to manage their own real estate businesses. Agents must work with a broker.
Employment change. Employment of real estate brokers and sales agents is expected to grow 11 percent during the 2006-16 projection decade—about as fast as the average for all occupations.
Although gaining a job may be relatively easy, beginning workers face competition from well-established, more experienced agents and brokers.
Employment is sensitive to swings in the economy, especially interest rates; during periods of declining economic activity and rising interest rates, the volume of sales and the resulting demand for sales workers fall.